EURJPY DT?

Morning Dynamic Traders

I hope you're all enjoying good profits from your trades this week. Sorry for the lack of updates, it's been a busy week!

Below is the EURJPY chart which I've been keeping an eye on. It's not the best of charts as price has been in a long range. However, as SM traders know, the longer the consolidation, potentially the bigger the next move! Recently price has weakened, broken support and is now showing confluences for a shorting opportunity. The VI is starting to curl down and we have a possible DT formation at a fib breather. There are also other confluences which you can uncover through your own analysis.

The aggressive entry is a BOB of the minor TL - using ESLT or a pullback strategy. The safer, more conservative entry is a BOB of the support/RN cluster. I'm choosing the conservative approach.














This chart may not be everyone's cup of tea - so please ensure you carry out your own analysis and make a personal judgement on a trade.

Welcome back Zaheer and Richard - looking forward to hearing all about your UPW experiences!

Have a great trading day Dynamic Traders!
Sonia Molina

Weekly update

EURGBP mentioned on Wednesday's post has moved a little further south, no real indications of a change in trend or immediate pullback.

EURO
The trendline support has so far held the price on the north side. Not much to report on this one apart from wait and see, further potential entries may be available once price decides what to do.

AUDCAD
This pair did a 1 to 1 and general signs still look bullish although a short term pullback may be witnessed.

EURJPY
The EURJPY pair did not provide us with a break out however, it did breakdown and has moved some 600 pips south. It is now at the value index where it may find support and bounce back or the sellers may be more dominant and push price down further.

Swissy
The Swissy did a pullback as per the blog and moved up a couple of hundred pips. The trend is down so one would expect that may resume, however it has not yet been confirmed. Pause until you get the right signals to re-enter.

As the markets are making up their mind we may see some good set ups coming up in the next days. However, do note that Friday is NFP so the activity may be more unusual rather than the trend.

Good Trading!
Bijal Shah

Set ups for the week

Dear Dynamic Traders,

Hope you are enjoying your weekend. The markets have been very generous of late particularly for those following the trend. The AUDCAD mentioned early last week continued to rally and produce nice profits. It is however approaching a strong resistance level (as pictured below in the weekly chart) and a RN. As the trend is up there is nothing stopping it from continuing to rally, though a pullback may be witnessed and therefore good trade management is required for profit preservation.














EURJPY

The EURJPY has been in a form of consolidation for a while as can be witnessed from the chart below. Price has pushed through the value index and gained some momentum. It is now contemplating a previous resistance. If it manages to successfully break through a good long opportunity presents itself with a possible ESLT entry.














USDCHF/Swissy

The Swissy has been in a downtrend for a while as per the weekly chart below. Again with this chart price is tackling a previous support and a significant RN. If the sellers outweigh the buyers the trend will continue. Its a good time to tighten the stops to preserve profits or get ready for another opportunity to enter if price successfully tackles the upcoming obstacles.














Good Trading!
Bijal Shah

Progress for the week

Good evening Dynamic Traders,

NFP normally is on the first Friday of each month but was on Thursday this month. It usually produces huge amounts of volatility and is therefore safer to stay out of the markets. Today's movement does not appear to be as great as it is usually.

Given that it is Friday tomorrow I have decided not to post any new set ups but to take a look at the ones I have posted recently to see how they have fared.

First up is the AUDNZD. Price tested the support line and bounced up some 300 pips. It is now testing a previously supporting trendline and has produced a doji. Will it be able to continue to go up to test the previous high or will it find resistance and succumb to the downward pressure?















The GBPCAD also found resistance produced a doji and a pullback. We will be on the lookout to see if price will continue down to retest the value index or indications of a continuation up.














The GBPUSD and EURJPY have not yet broken out so are still very much on the watchlist.

Wish you an awesome weekend.

Good Trading!
Bijal Shah

Awaiting breakouts

Dear Dynamic Traders,

Welcome to the start of another trading week. Hope you have had an outstanding weekend.

Today's pairs for review are the Cable and the EURJPY.

The daily chart for the Cable shows price having reached a resistance area (which is also a Fib breather level more apparent on the weekly chart) and then some level of sideways movement. The question is what next? The highlighted area shows the oscillation, ideally we want price to break up through the resistance so established trend may resume and simple filter employment will ensure entry into a trade.

Should price decide to reverse, it is less simple as additional confirmation would be required and it means trading contra trend until a trend is established.














The EURJPY is showing a recent pullback, with the VI acting as support and price is currently near a RN. There is nothing obvious to suggest a change in trend, we have been continuing to witness higher highs and higher lows although the approaching trend line/squeeze should be kept in mind . A entry may be sought at the break of a trend line on a slightly shorter time frame or at the break of a previous high.














Good Trading!
Bijal Shah

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EURJPY review

Dear Dynamic Traders,

At the time of the last post of the EURJPY price was in a triangle/squeeze formation. It has since broken through and headed upwards some 300 pips. Below are the weekly and daily charts for the EURJPY. The weekly has been posted to show the strength of the S/R line due to the amount of touches it has had.

The daily chart shows a possible double top formation due to the S/R line. As price has been bullish lately, it may very well continue northwards. If you are already in the trade it would be a good idea to manage it and tighten stops. If you are not in the trade, you may have the opportunity to enter very soon with ESLT.



























Good Trading!
Bijal Shah

Break Out's on the EURCAD & EURJPY

Good Evening Ladies & Gentlemen,

Below are the daily charts for the EURCAD and the EURJPY both presenting potential set-up opportunities.

The EURCAD having just broken through the trendline, is approaching a support level together with a RN. Price has been in a down trend since the beginning of this year. We may see a break down and continuation or price may find support difficult to penetrate and bounce back up. Either way ESLT would be highly appropriate here.














The EURJPY daily chart below demonstrates price arriving into a squeeze formation. The longer term trend is down with price move upwards since the beginning of 2009. This could be viewed as a big move up, pause (at a Fib breather level) and a potential equal move up. Alternatively if price decides to resume the longer term downtrend then we will see a break down at some stage.















Good Trading!
Bijal Shah

EURJPY

Good Day Dynamic Traders,

Last Thursday's post featured the EURJPY bearish flag which worked out nicely and produced a comfortable 300+ pips.

Since then price has found support close to the 126 area which is also previous support. On the daily timeframe your analysis will show that price is between 2 Fib breather levels. This is not an ideal position as it does not assist identification of possible movement of future price action with ease. Therefore we have to look for other clues.

The 240 timeframe shows price at a previous support which could turn out to be a double bottom and a bounce up. MACD convergence has been present for some time now adding to the confluences. However, this is not yet sufficient to meet the criteria of my trading plan therefore I will wait for further confirmation until which point this will remain on the watchlist.















Good Trading!
Bijal Shah

EURJPY Flag?

Good Evening Dynamic Traders,

Hope you are all having a great trading week so far. It is fantastic to have a long weekend but it makes the trading week somewhat shorter and sad to say its nearly over!

A fairly shorter timeframe chart on the blog tonight - 120 minutes of the EURJPY. The trend on the daily has been up recently and after a quick kiss with the value index, price has started to retrace south. Price has honoured a couple of Fib breather levels and is now in somewhat of a congestion zone. Should it break below the support line there will be some nice pips to be made. Use of your Fib tools should help you gauge entry and exits.















Good Trading!
Bijal Shah

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Last weeks charts revisited

Good evening Ladies & Gentleman,

Lots of movement on the Yen currencies happened overnight. Below are the weekly and daily charts for the EURJPY and EURUSD. I thought we would take a big brother view today in addition to the reviewing the daily charts.

EURJPY
The weekly chart shows the medium term downtrend. Price retraced through a strong resistance level to a Fib breather level and a RN. It then produced a reversal candle and started to move southwards.















Last week when I posted this chart, price was approaching the value index and the 135 figure. It has since tagged the value index and bounced off it. The daily chart shows price is now appoaching a support level which is in close proximity to a Fib breather level. If you are already in this trade, it will need to be managed closely to protect your profits.














EURUSD

The weekly EURUSD shows a triangle formation, price is getting constricted into a squeeze.














The daily chart is a little busy but I wanted to ensure I captured everything to share with you. On the last post price was hovering around the value index, it continued to do this for 6 days before it broke down. Price is now heading towards an area of support, Fib breather level and RN. Again trade management is key as we approach this level. MACD is currently following price and not showing any early warning signs of reversal.














You will note that the Swissy is doing almost exactly the converse of the EURUSD.

Good Trading!
Bijal Shah

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EUR Review

Good morning Dynamic Traders,

Hope you all had an awesome weekend. In the UK, it was Mothering Sunday, a great time to catch up with family and appreciate the silent heroes - it can never be done often enough!

Today I would like to review a couple of currency pairs I posted last week to check on progress.

The first one is the EURJPY posted on Tuesday, 16th March. The price at the time of the last post was 129.57, it has continued to climb up and is currently at 131.64. On the chart below I have pointed out 2 hurdles price faces before it can continue on its way up.

MACD last week was showing clear divergence, which although is still apparent, the indicator is somewhat following price action. How would I trade this? I will wait to see what price does by the end of today, if a BOB is produced along with my other confluences of events, I will employ my ESLT filters and place my orders for emotion free trading.















EURUSD
The Euro posted on March 18th was at 130.27 at the time of writing, broke through strong resistance and is now at 136.34. The question posed in most people's minds is "Has the trend changed?" and this was addressed by a post from Javid recently.

The Euro saw some massive moves last week and if the upward movement continues to hold then there are 3 near term things (highlighted on the chart below) that we need to watch out for: resistance at the value index, strong trendline support and the figure.














Good Trading!
Bijal Shah

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EUR in the zone

Good evening Dynamic Traders,

Hope you are enjoying a week of beautiful weather and lots of opportunity in the markets. I must say I don't normally trade the news as it is not something that is good for my sanity and more importantly my better half's health :)! I did however benefit inadvertantly as I was already triggered into a position, the market gathered momentum akin to an avalanche and then there was no stopping it - fortunate for those that were in the flow and not so bad for those with stop losses either. Well done to Zaheer for gracefully extracting a sizeable 300 pips!

I have had a phenominal week of growth and breakthrough's this week on many aspects of life and as such would like to say thank you to you the readers of the blogs for your energy and feedback and to Javid and Anne for their humility and contribution that touches so many people's lives. I would also like to commend my fellow bloggers not just on their trading and persistance but their creativity and inspiration.

On to the charts then, there is some decision making for the EURJPY to do. Price is approaching a strong resistance level which is also a major RN. MACD across multiple timeframes is showing divergence. Will price gain continued strength and manage to break through the posed barrier or will the resistance win again? The answer is - no one knows but a good occassion may be presented shortly to get into the game.














The EURGBP is also showing somewhat of a similar decision point. After a period of consolidation, it has journeyed upwards and is now approaching strong resistance. If the uptrend is to be resumed then it will continue through resistance. I will be keeping a keen eye on this one to see if I can get into the game at the appropriate time.

Keep in mind that if there is a large price movement due to news, price can go through a correction phase. Please do your own analysis - that is a fun part!














Good Trading!
Bijal Shah

EURJPY Squeeze

Greetings Dynamic Traders,

Hope you all had a good start to the trading week. Congratulations to Clayton on embarking on a new chapter by way of an exciting full time trading career and hats off to your persistence.


I had a massive injection of information and energy which is helping me refine my trading even further thanks to "the wise one" and I am excited and looking forward to implementing it, the benefits of which will also be shared with you through this blog.


Today's chart is the EURJPY. The daily is providing us with a squeeze formation with MACD divergence, resistance, RN and trendline support as confluences. What needs to be done next is wait patiently for the market to provide the right information by way of reversal or continuation signs before a trade can be contemplated. If price does break through the resistance, the next area we will be looking at is resistance provided by the value index.














Good Trading!
Bijal Shah

EURJPY

Greetings Dynamic Traders,

Hope you all had a pleasant weekend. The Japanese Yen pairs have been in a consolidation mode and therefore not been the subject of much conversation on the blogs for a while.

Below is the chart for the EURJPY which looks like it may decide to give us some tradable action. Price is close to a previous resistance, along with a trendline resistance, a Fib breather and the old faithful RN. In addition, the last two bars, though bullish in nature appear quite weak in the form of doji. This all indicates that a change may be in order. Please do your own analysis and adopt good risk management to enable the longevity of your trading career.














Good Trading!
Bijal Shah

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